PRIMNYSEWater, Sewer, Pipeline, Comm & Power Line ConstructionFiscal year ends December 31
Primoris Services Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$74.51+1.30 (+1.78%)
Close on Oct 19, 2026
- Market cap
- $4.02B
- P/E (TTM)
- 29.2
- Dividend yield
- 0.43%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
10.7%+0.1 pts over 5 years
Operating margin
5.4%+0.7 pts over 5 years
Net margin
3.6%+0.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +19.0% | +19.7% | +16.8% | +14.7% | |
| Gross profit | +15.6% | +21.2% | +17.0% | +14.0% | |
| Operating income | +29.6% | +28.2% | +20.2% | +19.8% | |
| Net income | +52.0% | +27.4% | +21.2% | +22.2% | |
| EPS, diluted | +51.7% | +26.7% | +18.4% | +21.6% | |
| Free cash flow | -10.8% | – | +6.5% | – | |
| Dividend per share | +23.1% | +10.1% | +5.9% | +4.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 15.6% | 17.8% | |
| Return on assets | 2.3% | 5.5% | 6.4% | |
| Current ratio | 1.62 | 1.46 | 1.26 | |
| Debt to equity | – | 0.44 | 0.28 | |
| Net debt to EBITDA | – | -0.04× | -0.13× | |
| Interest coverage | 6.5× | 8.1× | – | |
| Inventory turnover | 30.7× | – | – | |
| Capex to revenue | 2.9% | 1.8% | 1.7% | |
| Diluted shares | 52M | 49M | 55M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Primoris Services generated $1.34B from operations and spent $676.99M on capital expenditure, dividends and share buybacks. 87% of that went back into the business.
Generated
$1.34B
Used
$676.99M
Capital expenditure$587.93M87%Dividends$68.34M10%Share buybacks$20.71M3%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin3.6%
×Asset turnover1.76×
×Equity multiplier2.78×
=Return on equity, FY202517.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 3.6% | 1.76× | 2.78× | 17.8% |
| FY2024 | 2.8% | 1.59× | 3.03× | 13.7% |
| FY2023 | 2.2% | 1.55× | 3.14× | 10.8% |
| FY2022 | 3.0% | 1.45× | 2.90× | 12.7% |
| FY2021 | 3.3% | 1.55× | 2.65× | 13.6% |
| FY2020 | 3.0% | 1.84× | 2.83× | 15.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$274.90M
- Cash generatingOperating cash flow above zero$470.40M
- Return on assets improvedROA up on the prior year4.7% → 6.6%
- Earnings backed by cashOperating cash flow above net income$470.40M vs $274.90M
- Less leverageLong-term debt to assets fell15.7% → 9.3%
- Better liquidityCurrent ratio rose1.29 → 1.26
- No dilutionShare count did not rise55M → 55M
- Gross margin improvedGross margin up on the prior year11.04% → 10.73%
- More efficientAsset turnover rose1.66 → 1.81